Jamaicans bruised by weeks of rising energy costs may finally have reason to expect some relief after international oil prices fell below US$80 a barrel, but motorists and electricity customers should not expect the decline to show up immediately in their bills.

Brent crude, the international benchmark, was trading at US$79.26 a barrel on Wednesday, close to its lowest level since early March, after falling about five per cent during the previous session. US West Texas Intermediate crude was trading at US$76.29 a barrel.

The retreat followed mounting expectations that an interim agreement between the United States (US) and Iran could lead to the gradual reopening of the Strait of Hormuz and allow more oil to leave the Gulf.